Telecommunications

[May 02, 2012]

Lenovo and VeriFone Announce Mobile Point of Sale Platform with PAYware Mobile Enterprise

Lenovo (HKSE: 0992) (PINK SHEETS: LNVGY) and VeriFone Systems, Inc. (NYSE: PAY) today announced the ThinkPad Mobile POS, a complete mobile point of sale (POS) platform for retail outlets built on the Lenovo ThinkPad Tablet and a custom version of VeriFone's PAYware Mobile Enterprise for Tablet payment solution. With the ThinkPad Mobile POS, retailers can easily configure, customize and manage an end-to-end point of sale platform that delivers a more efficient and flexible alternative than stationary cash registers, helping to create new revenue opportunities for retailers, and improving the shopping experience for customers.

"The ThinkPad Mobile POS platform joins the rich ThinkPad heritage of productivity and durability with VeriFone's global leadership in secure electronic payment solutions," said Dilip Bhatia, vice president ThinkPad Business Unit, Lenovo (News - Alert). "The end result is a versatile and secure mobile platform that increases customer transaction speed and helps advance retail shopping to a new level of personal service."

Retailers can remotely manage the ThinkPad Mobile POS with ease, including individual device tracking, managing applications, checking status on individual units and even remotely wiping and resetting devices to minimize on-site support intervention. Information Technology managers also have full control over timing for operating system updates, which means avoiding unnecessary business disruptions and security risks created by unvetted updates from hardware vendors.

"Mobile solutions are enabling retailers to reimagine the point of sale and Lenovo's ThinkPad Tablet solution with PAYware Mobile Enterprise makes it possible to engage customers in the aisle or wherever goods are being sold," said Jennifer Miles, VeriFone executive vice president, North America.

Secure Shopping Experience

With the average cost of a cardholder data breach exceeding $6.6 million¹, security is paramount in payment devices. The ThinkPad Mobile POS meets or exceeds PCI 3, EMV 1 and 2, UKCC and Interac equirements, ensuring secure acceptance of all forms of payment, including EMV (EuroPay, MasterCard (News - Alert) and Visa), NFC (near field communication), debit and gift cards, electronic coupons, loyalty programs and promotions. VeriShield Total Protect encrypts cardholder data the instant it enters the tablet and the ThinkPad Mobile POS keeps cardholder data encrypted until receipt at a secure data center, eliminating the risk of data compromise.

Smart and Reliable ThinkPad Design for Multi-Function Use

Built to rigorous ThinkPad MilSpec standards that characterize all ThinkPad hardware, the ThinkPad tablet offers industry-leading durability with a brilliant display, multi-touch or pen input and dual HD cameras. The ThinkPad Mobile POS is the retailer's mobile workhorse, powering customer service, store management, analytics, inventory control, scheduling and more. Unlike consumer tablets, Lenovo uniquely gives ThinkPad tablet users full control over the operating system, letting retailers determine what can run on the tablet and when it is updated. Coupled with an enterprise-class service and support, the ThinkPad Tablet is ideally suited to mission critical application.

The POS case, designed by Targus, provides a clean contemporary look with a lightweight and ergonomic design. The multi-charge station charges up to five POS units, with case, in a single charge point.

¹ "2008 Annual Study: U.S. Cost of a Data Breach", the Ponemon Institute (News - Alert).

About Lenovo

Lenovo (HKSE: 992) (ADR: LNVGY) is a $US21 billion personal technology company serving customers in more than 160 countries, and the world's second-largest PC vendor. Dedicated to building exceptionally engineered PCs and mobile internet devices, Lenovo's business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group's acquisition of the former IBM (News - Alert) Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile Internet devices, including tablets and smart phones. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information see www.lenovo.com.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. ("VeriFone") (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.

This press release includes certain forward-looking statements related to VeriFone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc. These risks and uncertainties include: customers' acceptance and adoption of VeriFone's PayWare Mobile Enterprise for Tablet payment solution and other new product and service offerings, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. VeriFone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

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